Calculate salary pro-rata based on a basic salary of R18000 per month - days worked 14
By Marc Sevitz · Updated
Calculate the pro-rata salary based on the basic of R18000 - 14 days worked on VIP payroll. Calculate the PAYE on the pro-rata salary as well. How does VIP calculate PAYE on a pro-rata salary?
If you worked for 2 weeks and earned R18 000 for those two weeks then the calculation would be based on you working a full year and then reduced for the 2 weeks worked. So multiplied by 26 weeks and then the annual rates are used which then gets divided by 26.
There are tax tables used by SARS and the following would apply:
Taxable income: R 18000 (R 468000 annually)
Tax you will pay / PAYE (Pay As You Earn) for your age group and income bracket: R 4283.07 (as per PAYE tables provided by SARS)
Take home pay = Gross salary - PAYE - UIF
UIF / Unemployment Insurance Fund is levied at 1% of your taxable income, at most R148.72/month
Take home pay = R 18000 - R 4283.07 - R 68.64
Take home pay: R 13648.29 :)
I hope that helps?
If that is the only work you have done then you will get a tax refund at the end of the tax year when you file your return.
There are tax tables used by SARS and the following would apply:
Taxable income: R 18000 (R 468000 annually)
Tax you will pay / PAYE (Pay As You Earn) for your age group and income bracket: R 4283.07 (as per PAYE tables provided by SARS)
Take home pay = Gross salary - PAYE - UIF
UIF / Unemployment Insurance Fund is levied at 1% of your taxable income, at most R148.72/month
Take home pay = R 18000 - R 4283.07 - R 68.64
Take home pay: R 13648.29 :)
I hope that helps?
If that is the only work you have done then you will get a tax refund at the end of the tax year when you file your return.